Image via: TomorrowWorld
The fallout from the EDM company’s financial collapse continues.
In a statement given to Georgia Unfiltered, festival spokesperson Debby Wilmsen expanded on the future of the festival, which also holds massive, elaborately staged events in Brazil and Belgium.
“Both the festival in Boom (Belgium) and the one in Itu (Sao Paulo, Brazil) will go ahead without any disruption due to the current situation. In light of the present situation, no concrete plans have yet been made for TomorrowWorld 2016,” said Wilmsen.
SFX made a deal with Tomorrowland’s European owners in 2013 to bring the brand to the USA, but Wilmsen’s statement goes on to suggest that the two parties haven’t always seen eye-to-eye.
“Since 2013 we have collaborated with SFX for the foreign editions of Tomorrowland held in the USA and Brazil. However, we have noticed that our vision and goals, including a long-term strategy, are different from those of the publicly listed company.”
TomorrowWorld has taken place in Atlanta every year since 2013, but last year’s edition ended in catastrophe when bad weather forced the closure of the site to non-campers. It’s thought that the resulting refunds may have contributed to the financial downfall of SFX, whose share price plummeted after the failed event.
While SFX has filed for bankruptcy, a “debt-for-equity swap” deal will provide $115 million to allow the company to continue operating as normal during proceedings. Key SFX asset Beatport also said that it was “business as usual.”